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Down Payment FAQ
Down Payment = Total price - 60%/50%/30% of the Floor Price
Collection | LTV | Down Payment |
|---|---|---|
BAYC
CryptoPunks | 60% of the floor price | 40% or more |
MAYC
Azuki | 50% of the floor price | 50% or more |
Doodles & Space Doodles
CloneX
Moonbirds | 30% of the floor price | 70% or more |
If the total price of the NFT is much higher than the collection floor price, the percentage of the down payment will increase.
Down Payment Trading Fee: 1% of the full price
Flash Loan Fee: 0.09% of the borrowed amount (charged by AAVE)
50% of the Down Payment trading fees are distributed to all veBEND holders, and the rest 50% go to the DAO Treasury.
The Buy with Down Payment on BendDAO is not P2P based which means users can execute the purchase instantly. And there is no payment installments.
No payment installment. You take an NFT-backed loan and then become a borrower on BendDAO. You can repay any time you like. There is no fixed time period to pay back the loan. But you do need to keep an eye on the loan health factor to avoid liquidation. As time passes, the accrued interest will grow making the health factor decrease, which might result in more likely to be liquidated.
BAYC, CryptoPunks, MAYC, Doodles, Space Doodles, CloneX and Azuki
The boundNFT will be in your wallet since the original NFT is used as collateral.
You will receive the NFT when you pay off the loan.
Currently, BendDAO. More NFT aggregators and marketplaces will come soon.
In addition to the marketplace's trading fees and royalty fees, users also need to pay the following fees:
Flash loan fee: 0.09% of the borrowed debt, paid to DeFi protocol, etc. AAVE.
Down payment fee: 1% of the sale price, paid to the BendDAO treasury.
Last modified 8mo ago